GLENRAND M.I.B LIMITED
Lloyd's broker Glenrand Limited, a UK subsidiary of international risk advisory
and financial services group Glenrand M.I.B (Glenmib), has opened a new
division, Glenrand Health & Speciality.
Glenmib chief executive officer David Harpur says that the new division has
been launched with a highly experienced Accident and Health and Contingency
team brought in to service this high margin niche market, sourcing most of its
business in the US and UK.
This development is in line with Glenmib's stated intention of increasing
investment in its London operations to strengthen offshore revenues and further
globalise its client base. Offshore operations contributed 18% to operating
profit in the year to June 2000, up from 7% the previous year.
In the first half of Glenmib's 2001 financial year to December 2000, the
results reflected an ongoing investment into new specialist teams in the UK
operations. The benefits of these investments are expected to impact over the
course of the next twelve months, with significant earnings enhancement
thereafter.
GLENRAND LIMITED: BACKGROUND INFORMATION
Glenrand Limited is an independent Lloyd's broker operating in the Lloyd's and
London Insurance markets. It was established in 1991 and obtained approval to
trade as a Lloyd's broker in 1995. The company's substantial growth since then
has been achieved through the development of an international network of
clients and strategic business partners.
The focus on specialist and niche operating units has been key to Glenrand's
strategic development. Rather than seeking to be yet another general insurance
service provider, the company has adopted this specialisation model for its
growth strategy. The creation of Glenrand Health & Specialty through the
acquisition of a substantial and highly experienced team is a vital part of
this action plan.
Ends...Glenmib/ 2001/ Mrelease/ Health&Speciality version3.mr
ISSUED FOR : Glenrand M.I.B Limited
CONTACT : David Harpur (021) 410 2000 Cell 082 441 4486
FAX NO: : (011) 293 2755
E-MAIL : Dharpur@glenrandmib.co.za
ISSUED BY : TISH STEWART PR ASSOCIATES
CONTACT : Tish Stewart (011) 325 4195 Cell 082 443 6399
FAX NO : (011) 325-4199
E-MAIL : Tish@tspr.co.za
DATE : 08 March 2001
Media Release Continued - Page 2
GLENMIB STRENGTHENS UK OPERATIO
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